Northrop Grumman (NYSE:NOC) Announces Earnings Results

Northrop Grumman (NYSE:NOC) announced its quarterly earnings data on Thursday. The aerospace company reported $6.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.83 by $0.49, Briefing.com reports. The firm had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Northrop Grumman had a net margin of 5.23% and a return on equity of 23.07%. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the firm earned $5.50 earnings per share. Northrop Grumman updated its FY 2024 guidance to 24.450-24.850 EPS.

Northrop Grumman Stock Performance

Shares of NOC stock traded down $7.61 during midday trading on Friday, hitting $480.45. 1,275,104 shares of the company were exchanged, compared to its average volume of 1,002,050. The firm has a market capitalization of $71.20 billion, a P/E ratio of 35.72, a PEG ratio of 1.91 and a beta of 0.35. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.05 and a current ratio of 1.15. The firm’s 50 day moving average price is $462.00 and its two-hundred day moving average price is $465.71. Northrop Grumman has a 52 week low of $414.56 and a 52 week high of $496.89.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 26th were given a $1.87 dividend. This represents a $7.48 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, February 23rd. Northrop Grumman’s dividend payout ratio (DPR) is presently 55.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NOC shares. Royal Bank of Canada increased their target price on shares of Northrop Grumman from $450.00 to $475.00 and gave the stock a “sector perform” rating in a report on Friday. TheStreet lowered shares of Northrop Grumman from a “b+” rating to a “c+” rating in a report on Thursday, January 25th. StockNews.com lowered shares of Northrop Grumman from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Robert W. Baird increased their target price on shares of Northrop Grumman from $475.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Susquehanna raised their price objective on shares of Northrop Grumman from $540.00 to $560.00 and gave the stock a “positive” rating in a report on Friday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Northrop Grumman presently has an average rating of “Hold” and an average price target of $503.00.

Insider Buying and Selling

In related news, VP Kathryn G. Simpson sold 1,273 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $450.37, for a total transaction of $573,321.01. Following the completion of the transaction, the vice president now directly owns 2,735 shares in the company, valued at approximately $1,231,761.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Northrop Grumman news, VP Kathryn G. Simpson sold 1,273 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $450.37, for a total transaction of $573,321.01. Following the sale, the vice president now directly owns 2,735 shares of the company’s stock, valued at approximately $1,231,761.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kathryn G. Simpson sold 711 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $453.22, for a total transaction of $322,239.42. Following the sale, the vice president now directly owns 2,024 shares in the company, valued at $917,317.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,149 shares of company stock valued at $1,421,147. Company insiders own 0.22% of the company’s stock.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.